The New York Post is reporting that 23% of Monroe College students default on government loans.
A staggering 23.1 percent of 2,800 students who either graduated or dropped out of Bronx-based, family-owned Monroe College since 2007 have defaulted on millions of dollars worth of government-backed loans, putting taxpayers on the hook.
Monroe officials did not dispute the 23% figure but note that Monroe’s Bronx campus, on Jerome Avenue in Fordham, serves poorer students who struggle to pay back the money they borrow for its $11,744 a year in tuition and fees, college officials say.
The source of the 23.1% figure is not stated in the article. U.S. Department of Education reports indicate that the default rate for Monroe College students is 9%.